Kings Cove Hpr

Key facts from Kings Cove Hpr's documents

Community type

condominium (Document title and 2: 'Horizontal Proper)

Legal name

Kings Cove Association (also Kings Cove Condominium Association, Inc.) (Declaration 12; opening paragraph)

Governing law

Indiana Condominium Law (IC 32-25-1-1 et seq) (1(a) Definitions)

Assessments & dues

Proposed annual budget submitted to Co-owners for adoption at annual meeting; Regular Assessment based on equal shares per Apartment (By-Laws 5.02 and 5.03)

Special assessments

Board may make special assessments without Co-owner approval when unusual/extraordinary expenses arise (By-Laws 5.04)

Collections & liens

Regular and Special Assessments become a lien on each Apartment. Board may foreclose lien or sue for money judgment. Costs and attorney fees recoverable. (By-Laws 5.05 and Declaration para 22)

Reserves & fees

Late fee assessed if payments not received as scheduled (amount not specified) (By-Laws 5.03)

Pets

Yes, small pet dogs, cats, customary household pets allowed (By-Laws 6.01(f))

Leasing & rentals

Generally prohibited: no Apartment may be leased for exclusive occupancy by non-owner tenants. Exceptions: existing leases at time of recording, special circumstances (1-year max by Board discretion). Institutional mortgage holders exempt. (Declaration 18(a)(1)-(3),(8))

Architectural approval

Board approval required for alterations/additions to Common Areas or Limited Areas; no Owner shall make alterations affecting structural integrity without approval. (Declaration 14)

Signs & flags

Not specifically addressed; but no signs/attachments on exterior without Board consent (6.01(e)) may apply. (By-Laws 6.01(e))

Use restrictions

Yes, all Apartments for single family residential purposes (By-Laws 6.01(a))

Voting & meetings

Each Owner entitled to one vote in all matters (Declaration para 8 and para 12). By-Laws 2.05(a): number of votes = Percentage Interest * 100, e.g., 2.127% = 212.7 votes. Potential conflict. (Declaration para 8 and para 12; By-Laws )

Extracted from the recorded governing documents and cited to them; may be incomplete and is not legal advice — verify against the official documents below.